A number of methods are currently in use for the pricing and advertising of products. For example, manual placard displays are provided at locations where the product is shelved at the store to permit consumers to determine the price of the product. The placard displays must be manually changed each time that the prices in the checkout computers are changed so that there is no discrepancy between the prices contained in the checkout computer and the prices shown on the manual placard displays. However, due to accumulated errors, there can be a fairly large discrepancy between the prices contained in the checkout computer and the prices shown on the manual placard displays. This discrepancy is of increasing concern to governmental regulators.
Electronic pricing systems are also in existence. In the existing electronic pricing systems, each product carries a bar code. An electronic price display which displays the price of the product at a location where the product is shelved at the stores is provided. The store also has a checkout computer and scanner. In such existing electronic pricing systems, an individual with a hand held unit changes the product price at the display located where the product is shelved. The changed prices are entered into the hand held unit and the person positions the hand held unit near the electronic display and presses a button so that the information is transferred to the electronic display to display the new price.
There are also a number of systems available which interconnect local store computers to the checkout stations, as well as interconnecting local store computers to the owner computers. Companies, such as Intactix of Dallas, Tex., are suppliers of such software and the hardware is well-known to those skilled in the art. Methods also exist for connecting a local store computer to an owner computer. However, most of the current product pricing display change methods are manual as previously discussed. These methods are time consuming, and require costly generation and replacement of the pricing placards at the product stations.
A number of electronic display technologies are available today, such as liquid crystal displays, light emitting diode displays, flat panel video displays, audio convertors, etc. which may be utilized as product displays at the product station. For example, companies such as PRICER AB of Sweden and others are installing active product price units which can be controlled from the local store computer.
Since the internet explosion in 1995-96, a number of virtual store chains, such as Tom Thumb and Kroger have created virtual stores on the internet for home shopping and deliveries. Price synchronization for the virtual stores pose different problems from the physical stores.
With regard to advertising, a number of methods are currently in use for placing coupons in the hands of consumers. Three of such methods are:
1. Coupons are placed in the advertising section of periodicals or mailed directly to the consumer's house for later use in stores. PA1 2. Books of coupons and coupon dispensing units are made available inside stores for later use during checkout. PA1 3. Coupons are generated at the checkout station at the conclusion of the checkout process for later use by the consumer.
Once the consumer has presented a coupon to a checkout clerk, the coupons are either entered manually or scanned by automated scanners for checkout. The coupons must then be saved by the checkout clerk for later redemption at redemption centers so that the retail establishment can recover its cost from the product manufacturers which the store has, in effect, advanced to the consumer. The coupons must then be sorted by product and tabulated as to overall cost for various management reasons.
The current process for utilizing coupons typically proceeds as follows. The consumer hands a coupon to the checkout clerk. The product code on the coupon is scanned and the amount of the discount is looked up in the store computer. If the coupon and the discount amount have been both entered into the store computer, this amount is deducted from the normal product retail price. However, if the coupon has not been entered into the store computer, the discount amount must be manually entered.
Then, the coupon is set aside and saved for later sorting by another clerk. The amounts and product codes are accumulated and the coupons are later sent to a redemption center where they are again manually checked before a check or credit is issued to the retail store.
The current coupon handling methods are very time consuming.
With the present invention, the pricing of products is accomplished more efficiently than existing systems, and the manual handling of coupons at checkout locations is eliminated.